Freshpet (NASDAQ:FRPT) PT Raised to $55.00

Freshpet (NASDAQ:FRPT) had its price objective boosted by analysts at Imperial Capital from $40.00 to $55.00 in a research note issued on Friday, Marketbeat.com reports. The firm currently has an “inline” rating on the stock. Imperial Capital’s price objective indicates a potential downside of 3.02% from the company’s current price. Imperial Capital also issued estimates for Freshpet’s Q2 2020 earnings at $0.02 EPS, Q3 2020 earnings at $0.25 EPS, Q4 2020 earnings at $0.30 EPS, FY2020 earnings at $0.55 EPS and FY2021 earnings at $0.91 EPS.

Other equities research analysts have also issued reports about the company. ValuEngine lowered Freshpet from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on Freshpet from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday. William Blair reiterated a “buy” rating on shares of Freshpet in a report on Thursday, November 21st. Robert W. Baird increased their price target on shares of Freshpet from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Zacks Investment Research cut shares of Freshpet from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.88.

Shares of Freshpet stock opened at $56.71 on Friday. The stock has a market cap of $2.05 billion, a PE ratio of -378.07 and a beta of 1.06. The business has a fifty day simple moving average of $53.02 and a 200-day simple moving average of $48.03. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.36. Freshpet has a 12 month low of $28.44 and a 12 month high of $58.11.

Freshpet (NASDAQ:FRPT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $65.27 million for the quarter, compared to analysts’ expectations of $64.37 million. Freshpet had a negative net margin of 1.84% and a negative return on equity of 3.52%. The company’s revenue for the quarter was up 28.5% compared to the same quarter last year. Analysts expect that Freshpet will post 0.02 EPS for the current fiscal year.

In related news, CFO Richard A. Kassar sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $55.50, for a total value of $555,000.00. Following the transaction, the chief financial officer now owns 159,994 shares in the company, valued at $8,879,667. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard A. Kassar sold 998 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $55.54, for a total transaction of $55,428.92. Following the transaction, the chief financial officer now directly owns 153,996 shares in the company, valued at approximately $8,552,937.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,964 shares of company stock valued at $1,371,916. 4.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its position in Freshpet by 113.3% in the third quarter. Millennium Management LLC now owns 277,160 shares of the company’s stock worth $13,794,000 after acquiring an additional 147,196 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Freshpet by 32.3% during the 3rd quarter. Squarepoint Ops LLC now owns 32,903 shares of the company’s stock valued at $1,638,000 after purchasing an additional 8,038 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Freshpet during the 3rd quarter valued at $266,000. Barclays PLC raised its holdings in shares of Freshpet by 21.2% during the 3rd quarter. Barclays PLC now owns 30,551 shares of the company’s stock valued at $1,520,000 after purchasing an additional 5,346 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Freshpet in the 3rd quarter valued at $1,554,000.

Freshpet Company Profile

Freshpet, Inc manufactures and markets natural fresh products, refrigerated meals, and treats for dogs and cats in the United States, Canada, and the United Kingdom. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.

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Analyst Recommendations for Freshpet (NASDAQ:FRPT)

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